The price of copper has fallen by about 10% in 2014, and it recently hit a four-year low at about $6,550 per ton on the London Metal Exchange. Surprisingly, though, the talk at the conference was rather upbeat.
One explanation is that, even at current prices, the major producers aren’t suffering. Take the world’s largest producer, Chile’s Codelco. Yes, its costs have risen at twice the global rate – 60% versus 30% – since 2007. But at around $3,600 per ton, Codelco’s costs still leave room for a comfortable profit margin...............................................Full Article: Source